Market Overview for Curve DAO Token/Tether (CRVUSDT) – 2025-11-07

Summary
• Price surged from $0.4111 to $0.4822 on elevated volume.
• Momentum picked up during afternoon ET with bullish continuation.
• Volatility expanded significantly in the last 6 hours.

The Curve DAO Token/Tether (CRVUSDT) pair opened at $0.4111 on 2025-11-06 at 12:00 ET and closed at $0.4822 at 12:00 ET on 2025-11-07. The 24-hour high reached $0.4860 while the low was $0.4043. Total volume traded across all 15-minute candles was 10,968,430.38, and the notional turnover was $4,632,547.27. The price action was characterized by a strong rally in the latter half of the day, especially after 16:00 ET, with a final candle closing near the high.

Structure & Formations

Price action suggests a bullish breakout from a descending consolidation pattern starting around $0.4200. Key support levels appear at $0.4300 and $0.4150, while immediate resistance was tested and broken at $0.4500 before a final push to $0.4800. A large bullish engulfing pattern was observed during the 16:30–17:00 ET time frame, signaling strong buying pressure. A potential reversal doji appears near $0.4500 in the late afternoon, suggesting temporary exhaustion, though it was quickly followed by a strong rally.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages crossed to the upside during the rally, confirming a shift in trend. The 50-period line crossed above the 100-period line in the last 90 minutes of the day, supporting a bullish bias. On the daily chart, the 200-period moving average remains well below the current price, indicating a strong reversal from prior bearish tendencies.

MACD & RSI

MACD showed a bullish crossover in the early afternoon, with the histogram expanding to the upside through the end of the session. RSI data was unavailable due to a temporary data-source error. However, based on price action, RSI would likely have entered overbought territory in the final hours. Momentum appeared to strengthen throughout the day, with no clear signs of exhaustion in the final hour.

Bollinger Bands

Volatility expanded dramatically in the last 6 hours, with the Bollinger Bands widening from approximately $0.0015 to $0.0075. Price remained near the upper band for most of the last 3 hours, suggesting strong buying pressure. A potential breakout was confirmed as price closed above the upper band, which could signal the start of a short-term bullish trend.

Volume & Turnover

Volume spiked sharply in the 16:30–17:00 ET candle, coinciding with the strongest price move of the day. Notional turnover increased in line with volume, confirming the strength of the breakout. No major divergences were observed between price and volume; however, volume during the 16:00–16:30 ET period showed signs of fatigue, with turnover slightly declining despite a strong close.

Fibonacci Retracements

On a 15-minute basis, price moved from a low of $0.4200 to a high of $0.4860, retracing key levels at 38.2% ($0.4637) and 61.8% ($0.4468). The final close at $0.4822 suggests a continuation beyond the 61.8% level, indicating a potential extension toward $0.4940 or beyond. On a daily basis, the recent move suggests a 61.8% retracement from the previous bearish leg, reinforcing the bullish case.

Backtest Hypothesis

The absence of RSI data for CRV-USDT has prompted a strategic recalibration of the technical approach. A viable alternative is to compute the 14-period RSI locally using the provided OHLCV data. This approach would allow for a more precise identification of overbought and oversold conditions, especially in the context of the recent rally. Additionally, a Bollinger Band breakout strategy could be implemented, using the last 15-minute candle as a confirmation signal. If volume is above average and price closes above the upper band, a short-term long position could be triggered. This strategy could be backtested using the current dataset to evaluate its effectiveness in capturing the recent upward momentum.